BHIVE Workspaces has leased 1.4 lakh sq ft at Concorde Econex in Bengaluru for 15 years in a deal worth ₹240 crore. The expansion adds 3,000 seats and boosts its growth toward 1 million sq ft. Bengaluru continues to dominate India’s flex office market, which has crossed 100 million sq ft.
In a major boost to India’s flexible workspace sector, BHIVE Workspaces has signed a long-term lease agreement with Concorde for 1.4 lakh sq ft of Grade-A office space in Bengaluru. The 15-year deal, valued at ₹240 crore, reflects growing confidence in large-format managed office solutions and long-term enterprise demand.
Located at Concorde Econex in Doddanekkundi along the Whitefield tech corridor, the facility spans ground plus four floors. With an annual rental outlay of ₹16 crore, the deal is among the more significant long-term commitments in the flex space segment this year.
Capacity Expansion and Strategic Growth
This new facility is expected to add over 3,000 seats to BHIVE’s portfolio, further strengthening its presence in India’s largest flexible workspace market. With this addition, the company moves closer to its ambitious target of adding over 1 million sq ft to its network within the year.
The expansion is part of a broader strategy to scale up enterprise-grade offerings and cater to rising demand for managed office solutions. Once operational, the development will increase the combined seating capacity to around 5,000 across three centres, bringing BHIVE’s total capacity nationwide to nearly 60,000.
Developer Focus on Future-Ready Workspaces
From the developer’s perspective, the project reflects a clear shift toward high-quality, experience-driven office environments. Grishma R, Director at Concorde, emphasised that the development aligns with the company’s vision of creating future-ready commercial spaces that balance functionality with user experience.
She noted that the partnership highlights a shared commitment to delivering premium, enterprise-grade workplaces tailored to evolving occupier expectations.
Building Campus-Style Work Environments
BHIVE’s leadership views this deal as a strategic step in building integrated office ecosystems rather than standalone workspaces. Shesh Rao Paplikar, Founder and CEO of BHIVE Workspaces, highlighted the project’s unique features and strategic location.
“Concorde Econex stands out on both counts: exceptional construction, balcony gardens on every floor, and a location that’s walking distance from Seetharampalya Metro and minutes from the ORR blue line. This signing is a meaningful step toward our target of adding over 1 million square feet to our network this year, and Concorde Econex is set to become our largest BHIVE Platinum campus.”
He further added, “Our mission has always been to build campus ecosystems, not just offices. Working with Concorde on a property of this calibre moves us closer to our ambition of leading the large-format flexible workspace segment in India.”
Bengaluru Leads India’s Flex Revolution
The deal comes at a time when India’s flexible workspace sector is witnessing rapid expansion. The total flex office inventory across the country has crossed the 100 million sq ft mark, growing at a strong pace over the past five years.
Bengaluru continues to dominate this segment with 30–32 million sq ft of stock, followed by Delhi-NCR and Pune. Demand is largely driven by sectors such as IT, BFSI, consulting, and technology firms, which are increasingly adopting flexible, managed office models.
What This Means for the Market
This transaction highlights a broader trend in the office leasing landscape—operators are locking in large, long-term spaces to meet enterprise demand for scalability, flexibility, and premium infrastructure.
As competition intensifies, the focus is shifting from just expansion to creating differentiated, high-quality work environments. Deals like this reinforce Bengaluru’s position as the epicentre of India’s flex office growth while underlining the sector’s transition toward maturity and scale.
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